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- EUR/JPY falls off the cliff and retests the 200-day SMA near 141.80.
- The next level of support emerges at the February low at 139.50.
He USD/JPY weakens further and breaks below 142.00 to touch fresh 4-week lows near 141.80 earlier in the week.
EUR/JPY breaks below the consolidation range and challenges the key 200-day SMA today at 141.77. A sustainable break of the latter would open the door for further weakness to initially the February low at 139.54 (10 Feb).
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Below the 200-day SMA, the outlook for the cross is expected to turn negative.
EUR/JPY daily chart
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Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
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